The fall-out from the Carillion Collapse has been extensive and we have heard many discussions about it. Thus, we thought it was time that we also shared our views. So we went straight to our Director, Peter Stanton, to find out his thoughts. As well as what financial options are available for those that are now suffering with cash problems as a result of the collapse.
See his view below:
The fall out from the failure of Carillion is only just starting. And we, at Peak, are discussing with our customers indirect exposure to Carillion.
Many of our clients often do not realise that somewhere further up the supply chain, their customers customer may well be selling to Carillion. And the fall out of this none payment is yet to filter down the line.
The UK banks announcement to provide a supporting fund for those affected will offer some comfort with regards to costs, fees and general tolerance of the overall position. However, it will not take away the tens, if not hundreds, of millions of pounds which will be extracted from the working capital cycle of British business.
I have already taken a number of calls from people needing a swift response to their forthcoming cash problems as a direct result of this insolvency in a broad range of sectors.